ESL Podcast 632 - Negotiating a Business Deal

negotiation - the process of trying to reach an agreement with another person or organization where each side is willing to give up a little bit of something to meet the other side's needs

They found a house they'd like to buy, but now they're in negotiations over who will pay for the new roof.

deal - an agreement, especially involving a sale or exchange of goods or services

Did you get a good deal on the new car?

to put the finishing touches on (something) - to make the last small adjustments or changes to finish something well, when most of the work has already been done

They've almost finished remodeling their kitchen, and now they're just putting the finishing touches on it by painting the walls and changing the handles on the cupboards.

to hold out - to delay agreeing to something because one is waiting until one receives something else

We're almost ready to accept their offer, but we're still holding out for a little more money.

concession - something that one agrees to let another person have or do in order to reach an agreement or end an argument

The company can be flexible with your vacation time, but we simply cannot make concessions on salary.

demand - something that one insists on having; something that one says one must have or do in order for something else to happen

They'll never agree to your demands for such a large expense account.

to give in - to agree to do something that another person wants, even though one doesn't really want to; to let another person win

If we're persistent, at some point they'll give in just because they're tired of arguing with us.

to counter - to make a proposal in response to another person's proposal

Randy initially offered just $200 for our boat, but we countered with $300.

to have (someone) over a barrel - to be in a situation where someone is in a very difficult, uncomfortable, or impossible situation and one can take advantage of that, knowing that one will win

The landlord raised the rent again and the apartment is too expensive for us now, but he has us over a barrel, because we don't have anywhere else to go.

to walk away - to end discussions and stop negotiations because one is no longer interested in something, usually because the other side is asking for too much

Don't be too greedy! If you keep asking for more and more, they might just walk away and leave you with nothing.

at the table - in discussions; continuing to participate in negotiations

They spent many hours at the table before they agreed on the terms of the merger.

to cave - to give in; to give up; to agree to the other side's demands just to reach an agreement, usually because one is tired of arguing or negotiating

The Jamisons were so desperate to find renters for their home that they caved and agreed to let the new tenants have pets in the home, even though they really don't like the idea.

touch-and-go - fragile and hesitant; something that could fall apart or fail at any moment

The business is touch-and-go right now, and if the economy doesn't improve, it will probably have to close.

to characterize (something) - to describe something in a particular way

How would you characterize the play? Is it a comedy or a tragedy?

duly noted - a phrase used to show that one has heard and understood what another person has said and will think about it, especially when one needs to make a decision

Your complaints have been duly noted and we will share them with the store manager.